Investment Analysts’ Weekly Ratings Updates for Summit Midstream Partners (SMLP)

A number of firms have modified their ratings and price targets on shares of Summit Midstream Partners (NYSE: SMLP) recently:

  • 6/9/2021 – Summit Midstream Partners was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $31.00 price target on the stock. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “
  • 6/8/2021 – Summit Midstream Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “
  • 6/3/2021 – Summit Midstream Partners was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $29.00 price target on the stock. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “
  • 6/1/2021 – Summit Midstream Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “
  • 5/20/2021 – Summit Midstream Partners was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $27.00 price target on the stock. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “
  • 5/19/2021 – Summit Midstream Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “
  • 5/13/2021 – Summit Midstream Partners had its price target raised by analysts at Wells Fargo & Company from $14.00 to $15.00. They now have an “underweight” rating on the stock.
  • 5/13/2021 – Summit Midstream Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “
  • 5/12/2021 – Summit Midstream Partners was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “
  • 4/30/2021 – Summit Midstream Partners was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Summit Midstream Partners, LP is focused on owning and operating midstream energy infrastructure that are located in unconventional resource basins. It provides fee-based natural gas gathering and compression services in two unconventional resource basins: the Piceance Basin and the Fort Worth Basin. Summit Midstream Partners, LP is headquartered in Dallas, Texas. “

SMLP stock opened at $28.99 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.74. The stock has a market cap of $195.54 million, a price-to-earnings ratio of 0.45 and a beta of 3.26. Summit Midstream Partners, LP has a twelve month low of $8.85 and a twelve month high of $29.70. The firm’s 50-day moving average is $24.05.

Summit Midstream Partners (NYSE:SMLP) last posted its earnings results on Friday, May 7th. The pipeline company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.80) by $0.92. The business had revenue of $99.32 million during the quarter, compared to analyst estimates of $86.41 million. Summit Midstream Partners had a negative return on equity of 1.15% and a net margin of 51.79%. As a group, sell-side analysts expect that Summit Midstream Partners, LP will post -2.63 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SMLP. Acadian Asset Management LLC lifted its position in Summit Midstream Partners by 70.1% in the 1st quarter. Acadian Asset Management LLC now owns 2,712 shares of the pipeline company’s stock worth $64,000 after buying an additional 1,118 shares during the last quarter. UBS Group AG lifted its position in Summit Midstream Partners by 207.2% in the first quarter. UBS Group AG now owns 8,424 shares of the pipeline company’s stock valued at $199,000 after purchasing an additional 5,682 shares during the last quarter. First Trust Advisors LP lifted its position in Summit Midstream Partners by 10.3% in the first quarter. First Trust Advisors LP now owns 78,177 shares of the pipeline company’s stock valued at $761,000 after purchasing an additional 7,284 shares during the last quarter. Federated Hermes Inc. bought a new stake in Summit Midstream Partners in the first quarter valued at approximately $742,000. Finally, Blackstone Group Inc. bought a new stake in Summit Midstream Partners in the first quarter valued at approximately $866,000. Hedge funds and other institutional investors own 32.99% of the company’s stock.

Summit Midstream Partners, LP focuses on owning, developing, and operating midstream energy infrastructure assets primarily shale formations in the continental United States. The company provides natural gas gathering, compression, treating, and processing services, as well as crude oil and produced water gathering services.

Further Reading: Diversification in Investing

Receive News & Ratings for Summit Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Summit Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.